2023-06-02 07:01:26
Quite a lot of people have written and talked regarding it many times the Bitcoin network is by far the most secure and stable blockchain network in the world. Of course, it can be said that this is only the opinion of bitcoin maximalists. But according to crypto people who are not only interested in bitcoin, the other networks are not even close to bitcoin. Recently it is On the Margin in his podcast, the founder of Morgan Creek Capital, Mark Yusko talked regarding how there is no competition in terms of security and stability, and no one can keep up with bitcoin.
Bitcoin and Ethereum are not really competitors
Yusko stated all this that he does not consider himself a bitcoin maxi. Interviewer Mike Ippolito even asked if Ethereum was not competing in terms of security. To this Yusko said that he is not even close. He also explained a bit why he thinks so. He pointed out that, in the opinion of many, proof-of-stake is far from being as secure as proof-of-work. Of course, here Ippolito took issue with him, pointing out that the blockchain of Bitcoin and Ethereum serve different purposes. So, according to him, there is no competitive situation between the two networks.
The author of the interview also highlighted that while not much can be done beyond the Bitcoin network, countless different applications work with Ethereum. With these, you can lend and borrow, and many other options are available. Conversely, in his view, bitcoin is a great store of value in itself. But it doesn’t have the flexibility of Ethereum at all. Reflecting on this, Yusko acknowledged the differences, adding that if DeFi apps might be built on the Bitcoin network, then this might be the chain above all others.
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